Amid the ongoing US-Iran conflict, the Finance Ministry in its monthly economic review has called for reinventing approach to dealing with the evolving global challenges. India will need to rethink its approach and redesign its policy responses to an increasingly complex global environment, particularly the challenge of elevated energy prices, if it is to strengthen its strategic position, the Finance Ministry said in its monthly report released on Wednesday.

India's finance ministry warns of rising crude oil prices impacting fiscal and trade balances. Persistent geopolitical tensions in West Asia present key risks to the nation's…

Finance Ministry warns that rising crude prices could strain India's fiscal and current account deficits, impacting inflation and growth.